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Car Audio Market Share

Report ID: GMI5335
Published Date: Dec 2024
Report Format: PDF

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Car Audio Market Share

Sony, Pioneer Corporation, and JVC Kenwood collectively held a substantial market share of over 25% in the car audio industry in 2024. Sony leverages advanced technologies like high-resolution audio and 360 Reality Audio to deliver premium sound experiences. The company prioritizes smartphone connectivity through Android Auto and Apple CarPlay to meet consumer demand for connected infotainment. Sony's GS series, featuring LDAC technology, expands its premium product line. Partnerships with automotive OEMs ensure factory-installed audio systems, enhancing market presence. Additionally, Sony designs energy-efficient and eco-friendly products, aligning with global environmental goals and appealing to environmentally conscious consumers.

Pioneer drives innovation with significant R&D investments, developing cutting-edge car audio and infotainment solutions. Its product portfolio includes advanced in-dash receivers, amplifiers, and speakers with features like touchscreen displays, voice control, and smartphone mirroring. Pioneer capitalizes on the growing demand for connected car systems by seamlessly integrating navigation and entertainment features. The company targets the aftermarket segment, offering customizable solutions for diverse customer needs.

JVC Kenwood focuses on affordable, feature-rich car audio solutions to capture a broad consumer base. Its strategy includes integrating smartphone connectivity and multimedia functions into products like head units and amplifiers. The company emphasizes high-performance sound systems, catering to enthusiasts and the OEM market with custom audio setups for automotive manufacturers.

Car Audio Market Companies

Major players operating in the car audio industry are:

Alpine Electronics
Bose
Clarion Co.
Harman
JVCKenwood
NXP Semiconductors
Panasonic
Pioneer
Premium Sound Solutions
Sony

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of car audio surpassed USD 10 billion in 2022 and is anticipated to grow at 5% CAGR from 2023 to 2032 propelled by the increasing popularity of electric vehicles, along with growing demand for integrated sound systems with mobile apps.

The voice-recognized segment is poised to cross USD 10 billion revenue by 2032 due to the surging demand for the productive and remote features provided by advanced voice-controlled assistants.

The OEM sales channel is estimated to amass USD 12 billion in revenue by 2032 owing to the increasing number of partnerships between speaker manufacturers and automakers.

The APAC car audio industry is slated to witness 6% growth rate during 2023-2032 on account of the worsening traffic congestion and the increased amount of time spent in cars in the region.

Some of the major firms operating in the competitive landscape are Sony Corporation, Panasonic Corporation, Pioneer Corporation, Harman International Inc., Premium Sound Solutions, Bose Corporation, and JVC Kenwood Corporation.